Fifth Third Bancorp trimmed its holdings in Morgan Stanley (NYSE:MS) by 6.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,100,475 shares of the financial services provider’s stock after selling 76,061 shares during the quarter. Fifth Third Bancorp’s holdings in Morgan Stanley were worth $46,440,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Morgan Stanley during the fourth quarter worth $676,319,000. ValueAct Holdings L.P. lifted its stake in Morgan Stanley by 26.0% during the fourth quarter. ValueAct Holdings L.P. now owns 26,228,561 shares of the financial services provider’s stock worth $1,039,962,000 after purchasing an additional 5,418,091 shares in the last quarter. Prudential Financial Inc. lifted its stake in Morgan Stanley by 136.8% during the fourth quarter. Prudential Financial Inc. now owns 5,453,354 shares of the financial services provider’s stock worth $216,226,000 after purchasing an additional 3,150,224 shares in the last quarter. SG Americas Securities LLC lifted its stake in Morgan Stanley by 110.8% during the first quarter. SG Americas Securities LLC now owns 269,751 shares of the financial services provider’s stock worth $11,383,000 after purchasing an additional 2,767,524 shares in the last quarter. Finally, FIL Ltd lifted its stake in Morgan Stanley by 60.7% during the first quarter. FIL Ltd now owns 5,491,388 shares of the financial services provider’s stock worth $231,737,000 after purchasing an additional 2,074,400 shares in the last quarter. Institutional investors own 83.86% of the company’s stock.
In other Morgan Stanley news, insider Daniel A. Simkowitz purchased 7,000 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were bought at an average cost of $47.57 per share, for a total transaction of $332,990.00. Following the completion of the purchase, the insider now directly owns 193,089 shares in the company, valued at $9,185,243.73. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.
Morgan Stanley (NYSE:MS) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.16. Morgan Stanley had a return on equity of 11.45% and a net margin of 16.75%. The business had revenue of $10.29 billion for the quarter, compared to analysts’ expectations of $9.96 billion. During the same period last year, the firm earned $1.45 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, analysts anticipate that Morgan Stanley will post 4.79 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Monday, April 29th. Morgan Stanley’s dividend payout ratio is presently 26.03%.
MS has been the topic of a number of research reports. Credit Suisse Group restated a “buy” rating and set a $56.00 price target on shares of Morgan Stanley in a research note on Wednesday, February 20th. ValuEngine cut Morgan Stanley from a “sell” rating to a “strong sell” rating in a research note on Saturday, February 23rd. Zacks Investment Research cut Morgan Stanley from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Oppenheimer increased their price objective on Morgan Stanley from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, HSBC set a $48.00 price objective on Morgan Stanley and gave the company a “neutral” rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $56.24.
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Morgan Stanley Company Profile
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. The company operates through Institutional Securities, Wealth Management, and Investment Management segments.
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